Travel Food Services IPO GMP At Rs 92 Ahead Of July 7 Opening — Check Key Details
The Travel Food Services IPO is a bookbuilding issue of Rs 2,000 crore. It comprises an offer for sale of 1.82 crore shares.
Travel Food Services Ltd. is set to launch an initial public offering (IPO) to raise Rs 2,000 crore from the primary market. The company runs quick service restaurants (QSR) and lounges at airports. Those who want to bid for shares in the IPO must check its grey market premium (GMP) and other important details before making an investment call.
Travel Food Services IPO GMP Today
The GMP for the Travel Food Services IPO stood at Rs 92 as of 11:53 a.m. on July 4, according to InvestorGain. It indicates a listing price of Rs 1,192 apiece at a premium of 8.36% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
Travel Food Services IPO: Key Details
The Travel Food Services IPO is a bookbuilding issue of Rs 2,000 crore. It comprises an offer for sale of 1.82 crore shares.
Retail investors can invest in the IPO by bidding for a single lot size of 13 shares, requiring an investment of Rs 13,585. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,00,200. Big Non-Institutional Investors can participate by bidding for 70 lots. It will lead to an investment of Rs 10,01,000.
The price band for the IPO is fixed between Rs 1,045 and Rs 1,100 per share.
The subscription window for the IPO will be open from July 7 to July 9. Share allotment is proposed to be finalised on July 10. Shares will be transferred to the demat accounts of successful bidders on July 11, and refunds for non-allottees will be done on the same day.
Shares of the company are tentatively scheduled to be listed on the BSE and NSE on July 14.
A maximum of 50% of the net offer will be allocated to Qualified Institutional Buyers. At least 35% of the net offer is reserved for retail investors and a minimum of 15% will be offered to Non-Institutional Investors.
Kotak Mahindra Capital Company Ltd. is the book-running lead manager of the Travel Food Services IPO. MUFG Intime India Pvt. is the registrar for the issue.
Travel Food Services IPO: Business And Financials
As per its website, the company runs the largest network of travel QSRs and airport lounges in India. It has over 425 QSR outlets and more than 35 airport lounges in the country.
Use Of Proceeds
The company will not receive any proceeds from the offer for sale. The proceeds will go to the Kapur Family Trust, the promoter of the company.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
